Disruptive technology isn't the only threat to the real estate industry. Technology's effect on people is where the most transformative disruption is taking place. Whether it's buyers, sellers or those providing services at every step of the real estate journey, technology is making people more connected, informed, empowered, demanding, impatient, even narcissistic.
Each holiday season, we emphasize the importance and joy of giving. When we were young, however, the holidays were all about getting gifts. Those times are back. Unlike the old adage, it’s better to give than to receive, when it comes to innovation and leading digital transformation, it’s better to get the gift of empathy. Trust me. This isn’t a selfish holiday. This is about receiving something so transformative, that it becomes a gift that keeps on giving.
If you ask a banker what the biggest threat to their industry might be, the answer would likely be "blockchain"... the ominous-sounding technology that powers cryptocurrency and is proving something of a headache for banks trying to innovate their way out of the red tape of the past.
But that's only half the story...
We live in an era of "Digital Darwinism," a time when technology and society are evolving faster than the ability of many organizations to adapt. It is for this reason (along with a myriad of other problems of course) that in fact killed Borders, Blockbuster, Polaroid and the like. Not only did digital Darwinism cost us close to a half billion job, it's only accelerating.
It’s no secret that we spend a great deal of time in front of screens these days. Business has previously invested enormously on TV advertising, but is now overwhelmingly focused on getting eyeballs on all of the many screens we use daily. But screens have changed... and they’ve changed us.